This study outlines the origins, the course and causes leading to the failure of the so-called Northern Maritime Plan in the years 1626-1629. This was a Spanish plan to create a Hapsburg-Hanseatic trading company, which would be an instrument to oust the Dutch from the Baltic trade. This Plan was an instrument for Spanish diplomacy how to involve the armies of the Emperor and the Catholic League in the fight against the Low Countries. On the other side, Albrecht of Wallenstein viewed the Company as an instrument for concluding the defeat of Denmark and the conquest of the Baltic region. The discord between the interests of individual participants in the end caused the collapse of the entire Project. Yet, the idea of the establishment of a Portuguese Indian Company, which was at the very roots of the entire Project, survived the failure of this Plan and took place between the years 1628 and 1633.